AUSTIN,
Texas, Nov. 1, 2022 /PRNewswire/ -- Silicon
Labs (NASDAQ: SLAB), a leader in secure, intelligent
wireless technology for a more connected world, today
announced its board of directors has increased the authorization
for repurchase of the company's common stock by an additional
$50 million. Originally announced on
July 27, 2022, and subsequently
increased on August 29, 2022, the
stock repurchase program has a remaining authorized amount of
$300 million, inclusive of this
incremental $50 million. The
authorization remains in effect until December 30, 2023.
"Silicon Labs' proven cash generation capability and strong
liquidity position provide the company flexibility to invest in
future growth while returning capital to its shareholders through
ongoing share repurchases," said John
Hollister, Senior Vice President and Chief Financial Officer
at Silicon Labs.
Silicon Labs
Silicon Labs (NASDAQ: SLAB) is a leader in secure,
intelligent wireless technology for a more connected
world. Our integrated hardware and software platform,
intuitive development tools, thriving ecosystem, and
robust support make us an ideal long-term partner in building
advanced industrial, commercial, home and life
applications. We make it easy for developers to solve
complex wireless challenges throughout the
product lifecycle and get to market
quickly with innovative solutions that transform
industries, grow economies, and improve
lives. silabs.com
Note to editors: Silicon Laboratories, Silicon Labs, the "S"
symbol, the Silicon Laboratories logo and the Silicon Labs logo are
trademarks of Silicon Laboratories Inc. All other product names
noted herein may be trademarks of their respective holders.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/silicon-labs-board-of-directors-authorizes-additional-50-million-to-existing-share-repurchase-program-301665549.html
SOURCE Silicon Labs